The Consumer Financial Protection Bureau (CFPB) has announced rules related to threshold adjustments for mortgage loan appraisals, consumer credit transactions and consumer lease transactions. All three threshold adjustments will increase, effective Jan. 1, 2025. The exemption threshold for special appraisal requirements for “higher-priced mortgage loans”...
Open banking — relatively well-entrenched in Europe, nascent here in the United States — is taking shape largely by directive, through regulations and standards that give a roadmap to how financial data is permissioned by consumers and shared with financial services providers. At the center...
The chairwoman of the U.S. House Committee on Financial Services, Maxine Waters, told the head of the Consumer Financial Protection Bureau (CFPB), Kathy Kraninger, that the organization needs to do better. The rebuke came from prepared remarks delivered at a committee hearing called “Protecting Consumers...
For the Consumer Financial Protection Bureau (CFPB), 2020 may be a landmark year. There’s the looming question over the agency’s very constitutionality, recent definitions of what equates to “abusive” practices may scale back investigations (and fines) and some states seek to boost consumer protections. We...
September 17, 2024
Open banking — relatively well-entrenched in Europe, nascent here in the United States — is taking shape largely by directive, through regulations and standards that give a roadmap to how financial data is permissioned by consumers and shared with financial services providers. At the center of it all in the U.S. is a proposed rule […]
January 27, 2020
For the Consumer Financial Protection Bureau (CFPB), 2020 may be a landmark year. There’s the looming question over the agency’s very constitutionality, recent definitions of what equates to “abusive” practices...
June 07, 2018
Community banking is one of the most rewarding areas of financial services in which to work, according to Rebeca Romero Rainey, the new president and CEO of ICBA. The environment...
April 03, 2018
CFPB Acting Director Mick Mulvaney offered up the agency’s first semi-annual report under his tenure. Other than saying the agency is “too powerful” and offering proposals that would boost Congress’...
October 15, 2024
The Consumer Financial Protection Bureau (CFPB) has announced rules related to threshold adjustments for mortgage loan appraisals, consumer credit transactions and consumer lease transactions. All three threshold adjustments will increase, effective Jan. 1, 2025. The exemption threshold for special appraisal requirements for “higher-priced mortgage loans” or HPMLs under Section 129H of the Truth in Lending […]
February 06, 2020
The chairwoman of the U.S. House Committee on Financial Services, Maxine Waters, told the head of the Consumer Financial Protection Bureau (CFPB), Kathy Kraninger, that the organization needs to do...
July 13, 2018
U.S. Representative Patrick McHenry thinks it’s time for the GOP to move on from its mission to kill the Dodd-Frank Act. McHenry, a front-runner to become the next chairman of...
May 03, 2018
Despite Republican plans to scale back on Dodd-Frank, its co-author is optimistic the legislation will survive. “It’s much better than where I thought we would be,” former Democratic Rep. Barney...
